J. Crew returns to profit in 2nd quarter

Stronger store and online sales help J. Crew return to profit in 2nd quarter

Associated Press

NEW YORK (AP) -- Preppy clothing seller J. Crew Group Inc. said Wednesday that it returned to a profit in the second quarter, helped by higher sales at its retail shops and online.

Net income for the three months ending July 30 totaled $22 million, compared with a $10.5 million loss a year ago.

Revenue rose 21 percent to $525.5 million from $435 million last year. Retail store sales rose 24 percent to $384 million and online and catalogue sales rose 16 percent to $134 million.

Revenue in stores open at least one year, a key retail metric, rose 3 percent.

The New York company went private in March 2011 in a $3 billion deal with private equity firms. It operates 285 retail stores and 99 factory stores.

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